MINING SUMMARY.

Auckland Star, Volume XXXIV, Issue 179, 29 July 1903, Page 7

MINING SUMMARY.

Important developments have been reported at Waihi since last report, boring operations in the Grand Junction mine having located a large ore body which is no doubt one of the reefs worked witli such success by the Waihi Company. A bore was put down at an angle in the east section of Waihi Grand Junction property, and at 458 ft below No. 5 level a large ore body was penetrated. The cores from the first two feet asfiyed at the rate of £0 per ton, and after over 100 ft had been bored, assays are reported to lia-ve averaged £8 to £0 per ton, some being jib high as £12. Naturally, this caused considerable attention to be paid to shares ir, Waihi mines, a? this is practically the first time the reefs have been cut outside t.iio Waihi Company's boundary. Shares in the Grand Junction had a smart advance, and. those in the Waihi Company followed suit, because it practically proves the reefs to be of greater value below the .depth at present worked in the Wai-hi. Grand June-

tion, for which 17/ had the best offer, sold up to 25/, and Waihi shares advanced from 107/ to 115/. Low priced Waihi stocks nlso had attention, Extendftls and Consolidated* both doubling their value, and other that had not been quoted for gome months also found buyers at low rntes. At Karangahake the Crown mine had another satisfactory return, and development works are encouraging. The movement for testing the Thames deep levels by boring is being pushed forward energetically, some £700 being obtained in Auckland in a couple of days' canvass, and there seems little doubt now but that ample funds will be forthcoming, as already some £2500 is assured to commence operations with. The Mahara Royal Company at Tapu has commenced crushing, and the yield from the plates' alone is a payable one. Ooromandel seems likely to have a revival in mining, as picked stone is being obtained from the Hauraki, Bunkers' Hall, Hauraki Freehold, and Harbour View mines. In the Hauraki mine the manager believes he has again picked up the famous Leggea reef, which yielded such rich returns about seven years ago. One ha-ul of 561b of picked stone has already been obtained, some of which is remarkably rich.